Bill > SB315

This bill establishes new procedures for reimbursing owners and operators of petroleum facilities for preventative measures aimed at reducing the risk of tank releases. Specifically, the bill allows facility owners to be reimbursed up to $2,000 every 1,000 days for preventive actions such as removing inactive tanks, upgrading tank gauges, replacing single-walled piping and tanks, conducting tank removal investigations for aging tanks, and performing preventative inspections. The petroleum tank release cleanup fund will be expanded to cover these preventative measures, and the Petroleum Tank Release Compensation Board will be responsible for reviewing and approving reimbursement claims. The bill modifies existing laws to include these new reimbursement procedures, clarifies the board's rulemaking authority, and adjusts how the petroleum tank release cleanup fund can be used. Changes also include making a meeting to discuss tank releases discretionary instead of mandatory, depending on the expected cost of the release. The new provisions will take effect on January 1, 2026, and are intended to proactively address potential petroleum tank releases by providing financial incentives for owners to maintain and upgrade their storage systems.

Agriculture and Natural Resources, Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC3849